New partnership brings the workers' bank to ETU members
A new partnership has paved the way for ETU members in Victoria to join Unity Bank and take advantage of low-interest credit cards, home loans and cutting-edge features like Apple Pay.
Secretary Troy Gray says members have told him in recent years they were fed up with the big banks.
“Insurance scams, poor service, fee hikes and greedy profits. It’s time the workers had a workers’ bank – one that puts people first.”
“We searched for a bank the union could wholeheartedly recommend to members. We found it. Then we made it even better.”
The deal, which the union does not benefit from, enables members to have access to a low 10.12% rate credit card, with 55 days interest free on all purchases. The same rate applies for cash advances through the card – less than half the cost of most of the big banks.
Troy says the union went with Unity because it comes from the union movement. In the 1970s, maritime workers set up a member-owned cooperative that could secure wharfies’ and seafarers’ loans when the big banks wouldn’t.
Since then, he said Unity has grown to cover more workers in more industries – including power, mining, forestry and energy.
“Today Unity Bank has over 40,000 members and offers every service you’d expect from a big bank. But Unity is 100% owned by the members – not by shareholders.”
A highlight of the offer includes all members having access to a dedicated Relationship Manager, Seamus Ryan, based at the union offices and travelling between worksites, ready to offer guidance and support.
Troy said, “We see this new partnership as the next step in looking after the members and their families. I am proud to recommend Unity Bank to all members.”
Finally a bank on your side
Everything you’d expect from a bank
Unity members enjoy one of the largest Direct Charge Fee Free ATM networks in Australia. Our network includes rediATMs, NAB ATMs and Cashcard ATMs.
Of course, Unity Bank has a state-of-the-art banking app including the ability to change your card PIN make payments on the go.
There are also 24 branches across Australia – so you can bank no matter where you are.
Personal support for ETU members and your family
The partnership between Unity and the ETU means members have access to our own dedicated Relationship Manager, ready to guide you through the full range of financial solutions available to you.
When times get tough, Unity understands that members may need help. If you have a loan with Unity Bank and for whatever reason you are faced with financial hardship,
Unity can help you and your family overcome these hardships.
Find out more about Unity Bank here.